Under the tentative plan, families with children would receive an additional $300 per child, subject to an overall cap of perhaps $1,200, according to a senior House aide who outlined the deal on condition of anonymity in advance of formal adoption of the whole package. Rebates would go to people earning below a certain income cap, likely individuals earning $75,000 or less and couples with incomes of $150,000 or less.
111508Bride
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Re: Deal reached on tax rebates...see if it benefits you
The more money you make, the more taxes you pay throughout the year...therefore you should get more money back, because you have paid more taxes than someone making less than you.
My question is how much more do you get back when you own a home? Anyone been through this yet? This is the first year I have owned a home, and have an appt with my accountant this weekend...just curious...
Espo22
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Re: Deal reached on tax rebates...see if it benefits you
Posted by Future Mulligan
Posted by Emily08
Posted by nifheim
WOW fh and I finally get a chance to get some damn money back. I feel like sometimes you gotta be rich to get some money back on taxes because people with higher incomes typically get more deductions. WHOO HOO it pays to be dirt poor for once.
I odn't know if that's necessarily the case, because the people that make more $ get WAY more taxes taken out initially... close to 50%!!!!!
my FH gets more taxes taken out than my entire gross salary - unless you have lots of write offs (which he doesnt) you get screwed when you make a lot of money....it really s-u-c-k-s
yup...fh gets ALOT taken out and last year he didn't get alot back...infact last year i started this job and it was only for 3 months bc in january we get our w2's, uhmmm i got back more than fh for just 3 months and he makes more money. You had to see his face when i told him how much i was getting back...but i also get ALOT taken out, and i get taxed both for NJ and NY since i work in jersey so yeah it adds up, but when i get back i also get back from both
Future Mulligan
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Re: Deal reached on tax rebates...see if it benefits you
all i know is that if you have a high salary its smart to max out your 401k - at least that is what fh is doing - because at least that money wont be taxed.....
Snowflake08
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Re: Deal reached on tax rebates...see if it benefits you
ugh, nothing for me
skinny237
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Re: Deal reached on tax rebates...see if it benefits you
U know what s u c k s.....
If U live in Kansas, $75,000 is a lot of money. U can have a nice house built and live on that 1 salary.
If U live here, $75,000 for an individual is nothing. U can't afford a house and def are not saving a lot of $, if any.
I think the rebates should also factor in cost of living.
Snowflake08
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Re: Deal reached on tax rebates...see if it benefits you
Posted by Espo22
Posted by snwb08
so no rebate whatsoever if you make more than $75k right? I think that's how i read it.
no it says partial rebate
right and then it says partials UP TO 87,000 so if you make more than 87000 - nothing
The rebates would phase out gradually for individuals whose income exceeds $75,000 and couples with incomes above $150,000, aides said. Individuals with incomes up to $87,000 and couples up to $174,000 would get partial rebates. The caps rise higher for individuals and couples with children.
Snowflake08
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Re: Deal reached on tax rebates...see if it benefits you
Posted by skinny237
U know what s u c k s.....
If U live in Kansas, $75,000 is a lot of money. U can have a nice house built and live on that 1 salary.
If U live here, $75,000 for an individual is nothing. U can't afford a house and def are not saving a lot of $, if any.
I think the rebates should also factor in cost of living.
totally agree!!! i could live like a millionaire in kansas LOL
Future Mulligan
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Re: Deal reached on tax rebates...see if it benefits you
Posted by Snowflake08
Posted by skinny237
U know what s u c k s.....
If U live in Kansas, $75,000 is a lot of money. U can have a nice house built and live on that 1 salary.
If U live here, $75,000 for an individual is nothing. U can't afford a house and def are not saving a lot of $, if any.
I think the rebates should also factor in cost of living.
totally agree!!! i could live like a millionaire in kansas LOL
that is why we are moving to florida!! we can live off FH's salary alone and be comfortable.....i feel like that will never happen here.....i dont know how people afford to live here and have 2 or 3 kids its crazy!
emomma17
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Re: Deal reached on tax rebates...see if it benefits you
Wait am I reading it wrong, I thought it was saying people who pay income taxes will get an extra 600, and then so on if you are a couple, or have children??
This is what I saw..... Individuals who pay income taxes would get up to $600, working couples $1,200 and those couples with children an additional $300 per child under the agreement. Workers who make at least $3,000 but don't pay taxes would get $300 rebates.
The rebates would phase out gradually for individuals whose income exceeds $75,000 and couples with incomes above $150,000, aides said. Individuals with incomes up to $87,000 and couples up to $174,000 would get partial rebates. The caps rise higher for individuals and couples with children.
Snowflake08
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Re: Deal reached on tax rebates...see if it benefits you
yes but it says the rebates would 'phase out' for those making above a certain amount
Espo22
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Re: Deal reached on tax rebates...see if it benefits you
Posted by emomma17
Wait am I reading it wrong, I thought it was saying people who pay income taxes will get an extra 600, and then so on if you are a couple, or have children??
This is what I saw..... Individuals who pay income taxes would get up to $600, working couples $1,200 and those couples with children an additional $300 per child under the agreement. Workers who make at least $3,000 but don't pay taxes would get $300 rebates.
The rebates would phase out gradually for individuals whose income exceeds $75,000 and couples with incomes above $150,000, aides said. Individuals with incomes up to $87,000 and couples up to $174,000 would get partial rebates. The caps rise higher for individuals and couples with children.
yeah you get $600 if you dont make more than the above mentioned amount.
Espo22
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Re: Deal reached on tax rebates...see if it benefits you
They really should consider cost of living from state to state
ok if people are getting less back, how about taking less out of their paychecks...its not fair if somebody is having so much taken out and they get little or nothing back. I don't think anybody would like that
Snowflake08
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Re: Deal reached on tax rebates...see if it benefits you
it would be too hard to do it that way especially for people that either: 1. lived in more than one state during the year 2. earned income from one state and lived in another
emomma17
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Re: Deal reached on tax rebates...see if it benefits you
Well I don't make 75K or 85K so can I get back more money?!?! lol
Since we aren't married yet our incomes aren't combined so we would still be individuals...i think that means we are good for the rebate, god I am lost when it comes to this stuff!
Espo22
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Re: Deal reached on tax rebates...see if it benefits you
Posted by Snowflake08
it would be too hard to do it that way especially for people that either: 1. lived in more than one state during the year 2. earned income from one state and lived in another
oh i earn income in one state but live in another lol. I don't know, i just NEED to get somewhat of a decent amount back this time, both FH and I, it really will help
emomma17
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Re: Deal reached on tax rebates...see if it benefits you
Posted by Espo22
Posted by Snowflake08
it would be too hard to do it that way especially for people that either: 1. lived in more than one state during the year 2. earned income from one state and lived in another
oh i earn income in one state but live in another lol. I don't know, i just NEED to get somewhat of a decent amount back this time, both FH and I, it really will help
I'm with you were are banking on a good amount back to help us out!
Snowflake08
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Re: Deal reached on tax rebates...see if it benefits you
i hear ya i usually get a decent amount but i did my taxes already for this year its decent but less than the last few years
Espo22
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Re: Deal reached on tax rebates...see if it benefits you
Posted by emomma17
Posted by Espo22
Posted by Snowflake08
it would be too hard to do it that way especially for people that either: 1. lived in more than one state during the year 2. earned income from one state and lived in another
oh i earn income in one state but live in another lol. I don't know, i just NEED to get somewhat of a decent amount back this time, both FH and I, it really will help
I'm with you were are banking on a good amount back to help us out!
is this going into effect already? or next year. i just realized i dont remember what it said about this, or if it said anything at all
Espo22
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Re: Deal reached on tax rebates...see if it benefits you
Posted by Snowflake08
i hear ya i usually get a decent amount but i did my taxes already for this year its decent but less than the last few years
see thats what i was wondering about, some did their taxes already so its not fair if it goes into effect now...ALTHOUGh like they're concerned about being fair. I dont think i'll get too effected, i am more concerned about FH and his job didn't even give them their W2 forms yet
Snowflake08
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Re: Deal reached on tax rebates...see if it benefits you
well, i 'did' them but i didnt e-file yet i'll probably do that tonight or tomorrow
